Evaluation of the effectiveness of innovative projects using real options and fuzzy-sets approaches
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The monograph is devoted to the development of theory and methods for assessing the economic efficiency of innovative projects based on the concept of real options and fuzzy-sets analysis. Issues of application of real options method combined with fuzzy sets to the estimation of venture-backed innovative projects’ effectiveness are considered. The methodological ground of the feasibility of applying the real options concept, as well as the fuzzy sets for improving the instrument for analyzing the economic efficiency of innovations is given.
A new methodology for assessing the economic efficiency of innovative projects with venture financing based on real options method using the modified Heske formula with the inclusion of fuzzy-sets analysis is presented, as well as the original algorithm for its practical implementation is developed. Approbation of the proposed methodologies by the example of Russian innovative projects in the pharmaceutical and petrochemical industries is carried ou
